Transcend Corporate, the Midlands, Thames Valley and Hong Kong based corporate finance adviser, is pleased to announce the agreed sale of Hettle Andrews & Associates Limited (Hettle Andrews) to AssuredPartners Inc. (AssuredPartners) The Transcend Corporate team, led by partners Ian Curtis and James Cooper and assisted by colleague Tom Nash, acted as lead advisers to the shareholders of Hettle Andrews. The transaction is subject to customary approval by the Financial Conduct Authority and the deal terms have not been disclosed.
Based in Birmingham, Hettle Andrews is an integrated risk management and insurance broking firm, focused on the Education, Charity and Corporate sectors in the United Kingdom. Co-founded in 2004 by Jon Hettle and Jo Andrews, the business employs over 30 people and records gross written premiums in excess of £20m for its clients.
AssuredPartners is the fastest-growing independent insurance agency in the United States. Founded in 2011 as a national partnership of leading independent property and casualty and employee benefits brokerage firms, AssuredPartners is now one of the largest brokers in the nation, with offices in 30 states and a growing presence in the United Kingdom.
Transcend were appointed by the shareholders of Hettle Andrews to conduct a confidential sale process and marketed the business to a selected range of international, acquisitive insurance brokers. The shareholders were eager to find a buyer outside of the UK who would see their business as a platform for growth in the UK market and with whom they could work collaboratively in the future.
Jon Hettle, Director and co-founder said: “All of the directors of Hettle Andrews are delighted to have concluded the sale of the business to AssuredPartners. As part of a wider group, we have considerable opportunity to grow together and to provide the same great service to existing and new clients. This is a new phase in the development of Hettle Andrews and we are excited about the future working together.”
Of Transcend, Jon Hettle said: “Transcend played a key role in delivering this deal for the shareholders of Hettle Andrews. We gave them a challenging brief, but their hard work and determination was a key factor in ensuring we achieved this successful outcome. On behalf of all of the shareholders, I would like to thank the team for identifying the right buyer and negotiating a successful deal. We would happily recommend Transcend to business owners looking for corporate finance advice.”
James Cooper, Partner at Transcend, added: “Hettle Andrews is a unique business in the insurance sector and it has been a pleasure to work with the shareholders. The key to the success of this transaction was understanding their needs from the outset and tailoring our approach to deliver just the right buyer and on the right terms. We have accumulated significant knowledge in the insurance sector through this process and would be delighted to build on that in the future.”
Legal advice to the shareholders was provided by Penelope Garden of Field Seymour Parkes.